Articles by FX Markets Staff
The post-G7 environment
The latest G7 communiqué seems dramatic compared with recent years, but it is logical and consistent over the longer term, says Simon Derrick (right), head of currency research at the Bank of New York in London
Deutsche merges Benelux FX
AMSTERDAM -- Deutsche Bank began a move to relocate its Benelux FX sales coverage to Amsterdam earlier this month, as part of its strategy to grow FX business across all client sectors, sources close to the bank told FX Week .
CLS adds new data link
NEW YORK -- CLS Bank will announce the launch of a new settlements directory for users of the continuous-linked settlement service (CLS) today (September 29). The new data is designed to aid straight-through processing rates and reduce operational risk,…
BoA plans hires across European FX
LONDON -- Bank of America (BoA) is currently assessing how many of its planned 135 European hires over the next year will be in FX, a senior official at the bank in London told FX Week .
Dealers raise thousands for children’s charity
LONDON -- City dealers and New York institutions raised $240,000 for London-based charity Children in Crisis (CIC) on September 18 through the charity’s inaugural Dealing for Donation day.
COESfx takes SEB’s FX pricing
NEW YORK -- Electronic currency network COESfx will go live with FX prices from the London-based merchant banking division of Swedish bank SEB next month.
Prime brokers pilot FXall message service
LONDON -- Multi-bank FX trading portal FXall will go live with its upgraded prime broker message service in mid-December. The enhancement will automate messaging between the executing bank, prime broker and prime brokerage client irrespective of whether…
NZ dollar to strengthen
WELLINGTON -- The New Zealand dollar is set to strengthen against the greenback to at least 60 US cents by the end of the year, according to market participants in the Asia-Pacific.
SG hires three to global institutional sales team
LONDON -- SG has made three new hires to its institutional FX sales team in London. The move is part of the bank’s global effort to boost its institutional sales business, a senior official in New York told FX Week .
Asian currencies set to outperform
Asia is heading for a period of sustained growth. And with high US budget and current account deficits, the region is likely to replace the US for leading global economic growth, says Hans Redeker, global head of currency strategy at BNP Paribas in London
UBS triumphs in currency derivatives
ZURICH -- UBS triumphed again in this year’s currency derivatives categories in FX Week ’s sister publication Risk magazine’s global derivatives rankings.
Isda and Fix join forces
NEW YORK -- The International Swaps and Derivatives Association and Fix Protocol have formed a joint working group to share information on the development of their respective Fix and FpML messaging standards.
Nissan Motor takes Reuters risk system
Volkswagen is not the only car manufacturer in the process of increasing its currency risk management. Last week, Reuters announced it has sold its Kondor trade-processing risk and trade management product, Kondor+, to Japanese car manufacturer Nissan…
Banks failing SMEs on hedging
LONDON -- More than half of UK businesses with exposure to currency transactions totalling £20 million per year are failing to hedge their exposure, according to research produced by currency services firm Travelex in the UK. The lack of protection is…
Appraising a decade of EBS
Forex market reflects on 10 years of the electronic broking duopoly LONDON -- On the tenth anniversary of the launch of EBS onto traders’ screens, the FX market has altered almost unrecognisably.
Currenex names new CTO
NEW YORK -- Currenex has hired Sean Gilman as chief technology officer, based in New York. He replaces Matthew Arrott, who left last month.
Banks offer capital intro to hedge funds
LONDON -- Investment banks are stepping into a new role by offering a capital introduction service to hedge fund clients in order to increase their business with them, officials told FX Week .
Cashflow considerations in currency overlay
Active currency overlay can reduce the risk of adverse cashflow arising from a strategic hedge, say Andrew Davies, director of capital market research, and Damhnait Ni Chinneide, portfolio manager at Lee Overlay Partners in Dublin